Synopsis
India, the world’s biggest supplier, has harvested record amounts of rice for the past few years and has been shipping them at low prices.
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Stable rice prices could stop food inflation from becoming a more widespread problem.
As skyrocketing crop prices fuel fears about soaring food costs and hunger around the globe, one of the world’s most consumed staples is bucking the trend and warding off a broader food crisis at least for now.
Rice is the predominant source of nourishment each day for more than 3 billion people, and yet it hasn’t rallied anything like other agricultural commodities from corn to soy and meat. While prices are above levels a year earlier, they’ve declined in recent months in some of the top exporters including Vietnam, Thailand and India on improved supplies from new harvests.